Managing Gen Y in recessionary times.(selected topic)

The talent shortage of recent years contributed to many employers desire to increase their appeal to members of the so-called Millennial Generation, or Gen Y. Now, with a troubled economy and rising unemployment rate especially high among younger workers, managers might be inclined to think that Gen Y professionals should feel lucky just to have a job. This would be a mistake.

Though workers of all ages and experience levels should indeed feel fortunate to have a stable position in the current environment, this doesn't mean that managers can scale back on the need to inspire, motivate and develop their people. As experienced managers know, the business outlook will eventually improve and your best professionals will once again have plentiful opportunities and greater confidence to act on them. When that time comes, savvy managers will not want to lose the members of their teams newest to the workforce, just as their training and on-the-job experience start to take root. By avoiding management mistakes now, supervisors can potentially strengthen relationships with this segment of workers, building loyalty that will pay off for years to come.

While employers should avoid stereotyping Gen Y workers, it can be helpful to seek a better understanding of some of the typical expectations and values of this newest generation of workers. What Millennial Workers Want: How to Attract and Retain Gen Y, a study by Robert Half International and Yahoo! HotJobs of more than 1,000 members of Gen Y, offers some insights. By taking note of the following strategies for supervising Millennials, managers may be able to enhance their ability to attract and retain these workers.

Give Them a Reason to Stay

Like young professionals of earlier generations, Millennials are eager to find their professional niche. They crave challenging work and have high expectations of themselves and their employers. Also, because they grew up with a high level of stimulation (for example, through television, video games, the Internet and myriad extracurricular activities), they thrive on variety and change. In light of these defining attributes, it's not surprising perhaps that Gen Y respondents to our survey said they aren't willing to stay on the job long if they don't receive work that is progressively more challenging. More than half of those surveyed believe they should spend just one to two years "paying their dues" in entry-level positions.

Managers who can keep Millennials challenged and growing in their positions may be able to beat these expectations for tenure, even when the employment market improves. Consider whether the jobs of your Gen Y employees can be made more interesting and complex. Do they involve varied and challenging assignments or repetitive tasks? To improve retention among this generation of workers, you may need to restructure certain positions, such as that of an entry-level credit and collections clerk. Especially if you've lost some team members in recent months and haven't replaced them, it may be possible to combine several functions to create a single, more challenging job.

In addition, take the time to explain to young professionals that, while conditions may remain uncertain for a time, there are potential avenues your organization can offer them in the future. Discuss various career paths and possible next steps needed to reach them. Remember that a great deal has already been invested in the more senior members of Gen Y. It only makes sense to help them find the satisfaction and career path they're looking for within your department or company.